Hello SPIers, today let's look at a few of the hive-engine tokens I have been buying and started to build stacks of. I have always been vocal about what i think of hive-engine tokens in general by they for games, tribes, meme or other investment tokens. I have never been that impressed and up until 5-6 months back, the only hive-engine tokens we were stacking or holding were tokens under SPinvest, BRO or UTOPIS. We've all seen what happened to UTOPIS so i can get it wrong sometimes.
Anyways, lately, I am seeing new projects and am becoming more aware of others that are looking half decent. Their APYs are nothing crazy but I like that, I'd rather see a set target of 15-20% per year over some bullshit claim for 200% APY. These are currently added to the weekly report under "other" in the HE table. I need to edit them into the report sheet individually but it's one of the things were, "I'll do it tomorrow" and it only gets done at the last minute. I cant remember i what order i started to buy them but here's the tokens i have picked up for you in the hope of increasing our weekly HIVE income.
I have just started to write this post and the hive engine is down and I can't see current balances or values. What are the chances? Screw, I think I know enough in my head, lets's go.
EDS
So this is one of our own tokens. EDS tokens are pegged to 1 HIVE and their use case is to provide an inflation-proof HIVE income token. In a nutshell, you buy EDS and get a weekly HIVE income. The current APY is over 32% so we'd be crazy to not hold some. SPI is more than happy to provide liquidity at 1 HIVE.
I have bought roughly 1200 EDS in the past 5 months. From around 2 months back, buyers have been adding buy order for over 1 HIVE so the vast bulk of that 1200 was bought back in the next 3 months. SPI will be using some of these EDS tokens as Royalty Rewards at the start of next month, maybe 500ish.
The plan is to provide liquidity for EDS at 1 HIVE and buy whatever people sell, over time this will build up and our income from it will grow.
INCOME
So this is what it sounds like. This is an ecoinstant project so it's legit and has a proven history which is always very nice to see. I bought us 6% of the circulating tokens and it pays out a daily HIVE payment. Its current APY is a steady 8% which is not huge but the value of the token increase over time as more assets to earned and used to back the token. I bought 200 of these directly from ecoinstant for 600 BUSD and they are currently worth just over $3 so 50% up and APY increases to 12% based on our investment amount vs current value.
No plans to buy anymore of these, us having 6% is plenty enough.
DEFI
We have been invested in this one for a while now and it's been compounding for maybe 6 months already. This one is not straightforward to understand. Its dividend is paid in DEFI tokens and the APY ranges between 12% and 40%. When worked out, over the course of a year, the APY works out to an average of close to 27% which is pretty good.
I bought us 10% of the supply for 1000 HIVE when it was launched and they have been compounding since. Each DEFI token is valued at 0.10 HIVE and buy backs are offered through hive-engine. The buy backs on a weekly basis are fro interest only but after each 40 weeks (i think), they offer full buybacks for every token issued.
Plan is to just let it stack and compound and when we hit the next bullrun in 2-3 years, we'll be earning a decent amount of DEFI tokens and we'll beable to cash some out to recoup our investment and so more.
LABFUND
Ok, I'm not going to pretend i understand dCity but this token is backed by gaming NFT's that produce an income. The operator DM'd me seeking investment, showed me the plan and all looked good and worth a punt. I bought 500 at 1 HIVE each about 3-4 weeks back.
To date, we have received payments of 140 HIVE and 72.74 HIVE which is 40% of our money back already. On top of that, we have also received an airdrop of a token called ARMERO. We received 1174 of them currently worth 237 HIVE with a buy wall in place to sell if we want. That's another 23% of our investment back and in only 3 weeks. I will look into this ARMERO token and chances are if I don't understand it, I'll sell it and aim for us to be freerolling with LABFUND soon.
For LABFUND, i would like to get to us having 1000 of they, currently on 727 so 280 more needed. After that, start to add weekly HIVE payouts to earnings and sat on them.
Legion
This was an airdrop from BROFUND which we hold a 2.1% stake ownership. It's one of those airdrops that last for 1 year so we receive some every day. We receive 8.27 per day worth 7.56 HIVE. If the price holds, thats would amount to 2800 HIVE. That's not a bad airdrop.
It's use case summed up and from what I have read is that its a more refined version of BRO. HIVE collected from issuing tokens will be mainly invested into HIVE POWER and defi holdings. The defi holding they plan to go into are shit in my POV but Ray from Bro has a way of getting lucky so I'll back him. Well, they are an airdrop for free but we'll not sell them.
They also have plans in motion to add additional use cases and give LEGION more utility. They are working with stickupboys on some gaming stuff so we watch our stack increase by 8 tokens per day and wait for the gaming to launch.
Summed up
All in all, these are small holdings when compared to our HIVE or non-HIVE cryptos but as with anything, I can only invest for us what I think I can cash out quickly. We will hold all the above tokens for at least 2-3 years but i value liquidity and it's high up there where considering an investment. Paper values are cool back not the same as liquidation value.
I will continue to buy back EDS tokens and I would like us to have 1000 LABFUND tokens. We will continue to compound DEFI tokens for another 2-3 years and then see where we are from there. The income is good, I like it but I don't want us to be owning too much of it. I notice with hive-engine tokens, the most you can exit over the course of a few weeks is maybe $1000 max so it's not likely you'll ever see me invest more than that in one unless they offer liquidity or I have an under-the-table special deal 😉😉
I would like for us to own more income-based tokens. There are not lots on offer, i mean good ones but as time marches on, more are released by different people and we can snipe in and grab a slice.
I hope that gets you up to speed don't the hive-engine tokens I have been stacking for the past 6 months. Thanks for taking the time to stay up to date and have a great day.